Today there are a lot of disputes between experts, which version should be chosen. Naturally, there is no need to look for a definite answer to this question. After all, in this matter, everything is individual. However, there are many specialized articles that clearly define the limits of the terminals and show clear advantages. Here is one such article – https://fbs.com/blog/metatrader-4-vs-metatrader-5-which-is-better-in-2022-304.
So what is the difference between these two versions? Let’s try to figure it out.
The difference between MT4 and MT5 in timeframes
When loading the program, the trader pays attention to the main window. It shows the controls, information, etc. Here everything is quite similar in these terminals.
In fact, there is only one difference that catches the eye. In the fifth version, there are a huge number of timeframes.
Here you can find the following timeframes:
- 2 minutes;
- 3 minutes;
- 4 minutes;
- 6 minutes;
- 10 minutes;
- 12 minutes;
- 20 minutes;
- few hours.
It is especially worth highlighting the Depth of Market. With its help, you can see how many, which orders are at what level. Of course, this will only work for brokers that transfer data to this glass.
But in the fourth version of the terminal, these possibilities are slightly less, only transactions are displayed.
To obtain information about the volumes, you must use additional data.
Differences between Metatrader 4 and Metatrader 5 in the calendar
An important difference is that the fifth version comes with an economic calendar by default.
Thanks to the calendar, a trader can analyse the market without being distracted by other sources of information. In addition, it is convenient, the data from the calendar can be displayed directly on the graph. This is even more convenient for analysis.
I would also like to note one more point: Elliott Waves (more info) appeared among the graphic elements. Now, with the help of this tool, you can build impulse waves, as well as correction waves, and then trade on them, says Investopedia.
It also distinguishes the fifth version and the fourth one very much – the fifth one has huge graphical capabilities. Here you can make bar graphs, pie charts, linear ones, while all this will be only as a certain graphic element, and not the graph itself.
If we talk about a strategy tester, then you can see a huge amount of analytics, there are a lot of opportunities in version 5. There are additional graphs for analysing test results. It is also possible to optimize testing on backrests, as well as forward tests, at the same time.
Also, here there is an opportunity to increase your computer resources with the help of distributed networks.
Which version to choose? Here you need to think of the broker himself. Naturally, the fifth version has more features. However, there are those who choose the fourth version. In this case, it is best to experiment with different versions, see their capabilities, make sure which one is more convenient, and only after that answer the question yourself and decide on the version of the terminal.